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  • Head Mounted Display Market Forecast Analysis | 2023-2028

    Head Mounted Display Market Forecast Analysis | 2023-2028

    Head Mounted Display Market Forecast Analysis | 2023-2028
    Report code - SR1863 Delivery - 2 Weeks
    Head Mounted Display Market Size, Share, Trend, Forecast, & Industry Analysis: 20 See more...

    Market Insights

    The head mounted display market is estimated to grow from USD 8.14 billion in 2022 to USD 79.64 billion by 2028 at a CAGR of 45.99% during the forecast period.

    Head Mounted Display Market Size

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    What is a head mounted display?

    A head-mounted display (HMD) is referred to as a kind of computer displays device or monitor which is worn on the head or combined into a helmet. This display is used for the total immersion of the user in any experience the display is used for, as it assures that the display is positioned directly in front of the user’s eyes irrespective of the user’s direction of sight.

    Head Mounted Display Market Report Overview

    Market Size in 2028

    USD 79.64 Billion

    Market Size in 2022

    USD 8.14 Billion

    Market Growth (2023-2028)

    CAGR of 45.99%

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

     

    COVID-19 Impact

    The COVID-19 pandemic has negatively affected the head-mounted display sector. The ongoing COVID-19 pandemic has led to the lockdown all over the world. The outbreak adversely impacted the market’s supply chain, as some of the major players are based in China, the epicenter of the pandemic. Also, the end-use sectors such as engineering & design and aerospace & defense were shut down thus resulting in less product demand.

    Key Players

    The following are the key players operating in the market-

    • Sony (Japan)
    • Oculus (US)
    • Google (US)
    • Microsoft (US)
    • Seiko Epson (Japan)
    • HTC (Taiwan)
    • Lenovo (China)
    • Samsung (South Korea)
    •  Magic Leap (US)
    • Vuzix (US)

    Market Dynamics

    The head mounted display market is driven by a host of factors, some of which are noted below:

    • Rising investments in the development of HMDs, availability of low-cost HMDs, and increasing digitalization, coupled with their usage in diverse applications across the globe.
    • Increasingly invest in firms that have proven the usefulness of their innovations & products in the past few years.
    • Increasing adoption of head mounted displays in sports applications such as drone racing, robot war, FPV sports, and others.
    • The rising importance of augmented reality and virtual reality technologies in consumer and business solutions had led to increasing worldwide adoption of HMDs.
    • Increasing adoption of technologies like virtual reality and augmented reality removes the need for users to be physically present.

    Head Mounted Display Market Snapshot

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    Segment Analysis

    Component Trends

    The market has been classified into processors and memory, displays, lenses, sensors, controllers, cameras, cases and connectors, and others. Under these, the displays segment held a significant market share in 2022 & is expected to maintain its dominance during the forecast period.

    The display is one of the basic components in HMDs, and its lowering cost is likely to boost segment growth. Displays are increasingly used in many AR devices, due to which a significant growth in the demand for displays, thereby augmenting the segment growth in the coming years.

    End-Use Trends

    The market has been classified into consumer, commercial, enterprise & industry, engineering & design, healthcare, aerospace & defense & education. The consumer sector accounted for the largest share of the market in 2022 and is expected to remain dominant during the forecast period. Moreover, a shorter testing period for virtual prototyping has resulted in a drop in price, which will increase industry growth.

    In addition to consumer applications, growing demand for these displays for purposes like security, tracking, and imaging is a key driver contributing to the overall growth of the industry

    Regional Trends

    The North American market held a significant market share in 2022 and is projected to grow at a robust CAGR in the coming years. Growing investments made by the key players in the US have boosted regional market growth. Also, the surging adoption of new technologies and the presence of end-use sectors in the region further boost the regional market growth.

    Head Mounted Display Market By Region

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    Segmentation

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    The market is segmented into the following categories. 

    By Components 

    • Processors and Memory
    • Displays
    • Lenses
    • Sensors
    • Controllers
    • Cameras
    • Cases and Connectors

    By Type 

    • Slide-on HMD
    • Integrated HMD
    • Discrete HMD

    By End-Use 

    • Consumer
    • Commercial
    • Enterprise & Industry
    • Engineering & Design
    • Healthcare
    • Aerospace & Defense
    • Education

    By Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe)
    • Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and the Rest of Asia-Pacific
    • Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. 

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth analysis of the head mounted display market

    How lucrative is the future?

    The market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Target Audience

    The target audience of the market includes-

    • HMD companies
    • HMD distributors
    • Aerospace & defense companies
    • Government organizations

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

    We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

    Customization Option

    Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Recent Development

    On October 10, 2022, A new head-mounted display called the "Honeywell 360 Display" was launched, by the defense company Honeywell. This will provide military vehicles with a 360-degree view of their surroundings and improve vision for the drivers in threatening situations.

    On 5 January 2023, Sharp Corporation developed a head-mounted display prototype for VR (virtual reality) with an ultra-lightweight of approximately 175 grams, that can also connect to smartphones. Sharp's exclusive cutting-edge products, such as an ultra-lightweight VR display and a brilliant, ultra-thin eyepiece, are used to create the ultra-lightweight prototype.

    Frequently Asked Questions (FAQs)

    A head-mounted display (HMD) is referred to as a kind of computer displays device or monitor which is worn on the head or combined into a helmet. This display is used for the total immersion of the user in any experience the display is used for, as it assures that the display is positioned directly in front of the users eyes irrespective of the users direction of sight.

    The market was estimated to grow from USD 8.14 billion in 2022 to USD 79.64 billion by 2028.

    The market is projected to grow at a CAGR of 45.99% during the forecast period.

    The study period of this market report is 2017-2028.

    The key players operating in the market are Google (US), Sony (Japan), Oculus (US), Microsoft (US), Seiko Epson (Japan), HTC (Taiwan), Lenovo (China), Samsung (South Korea), Magic Leap (US), and Vuzix (US).

    The target audience of the market includes Head Mounted Display companies, Head Mounted Display distributors, Aerospace & defense companies, and Government organizations.

    North America market held a significant market share in 2022 and is projected to grow at a robust CAGR in the coming years.

    Rising investments in the development of HMDs, availability of low-cost HMDs, increasing digitalization, coupled with their usage in diverse applications across the globe are boosting the market growth during the assessment period.